Rock Point Advisors LLC Lowers Position in PGT Inc. (PGTI)
Rock Point Advisors LLC decreased its stake in PGT Inc. (NASDAQ:PGTI) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 439,738 shares of the company’s stock after selling 2,290 shares during the period. PGT comprises 2.4% of Rock Point Advisors LLC’s portfolio, making the stock its 16th largest position. Rock Point Advisors LLC’s holdings in PGT were worth $4,529,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position in shares of PGT by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock worth $222,000 after buying an additional 100 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of PGT by 0.3% in the first quarter. Lazard Asset Management LLC now owns 2,293,975 shares of the company’s stock worth $22,572,000 after buying an additional 6,685 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of PGT by 25.0% in the second quarter. Capstone Asset Management Co. now owns 38,080 shares of the company’s stock worth $392,000 after buying an additional 7,610 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of PGT by 109.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,169 shares of the company’s stock worth $156,000 after buying an additional 7,926 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in shares of PGT by 1.0% in the first quarter. Kennedy Capital Management Inc. now owns 822,208 shares of the company’s stock worth $8,091,000 after buying an additional 8,456 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of PGT Inc. (NASDAQ:PGTI) traded down 1.42% during trading on Monday, reaching $10.45. 159,179 shares of the company were exchanged. PGT Inc. has a one year low of $8.69 and a one year high of $14.05. The company has a market capitalization of $511.48 million, a PE ratio of 28.24 and a beta of 0.86. The firm’s 50 day moving average price is $11.17 and its 200 day moving average price is $10.91.
PGT (NASDAQ:PGTI) last released its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The business earned $119 million during the quarter, compared to the consensus estimate of $124.29 million. PGT had a net margin of 4.59% and a return on equity of 23.68%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Equities research analysts forecast that PGT Inc. will post $0.54 earnings per share for the current fiscal year.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of PGT from a “sell” rating to a “hold” rating and set a $13.00 price objective on the stock in a research report on Thursday, July 7th. FBR & Co reissued a “buy” rating on shares of PGT in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. PGT has an average rating of “Buy” and an average target price of $13.93.
In other news, Chairman Rodney Hershberger sold 15,697 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $12.02, for a total transaction of $188,677.94. Following the completion of the sale, the chairman now owns 974,040 shares of the company’s stock, valued at approximately $11,707,960.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.50% of the company’s stock.
PGT Company Profile
PGT, Inc is a manufacturer and supplier of residential impact-resistant windows and doors. The Company operates through the manufacture and sale of windows and doors segment. The Company’s impact-resistant products are marketed under the WinGuard, PremierVue, PGT Architectural Systems and PGT Commercial Storefront System brand names, combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris.
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